Reply to: Why should the taxpayer be bailing-out Northern Rock?

[Joe Black]

Sterling seems to correcting itself rather nicely:

http://newsvote.bbc.co.uk/2/shared/f...hree_month.stm

[beaker]

Oh no... now rates might drop again by the end of the year.

http://money.uk.msn.com/specials/int...mentid=6174313

Just when the market was starting to level out... welcome back house price inflation!

No one wants to let the market sort itself out do they?

Amateurs...

[Joe Black]

This whole thing reminds me of "Extraordinary Delusions and the Madness of Crowds" (http://www.amazon.com/Extraordinary-...s/dp/051788433).

Don't ask why, but the turn of phrase reminded of "The Unbearable Lightness of Being".

[Sysman]

One approach would be to dissolve all Banks and Building societies in the UK ( to all extents and purposes they are a cartel ) and instead have only one Central Government Bank - each bank account would then be indexed by your National Insurance Number.

Which is the worse crime - to rob a bank - or to own one ?

Brecht The Threepenny Opera

The side effect being that the gubmint is now your mortgagee.

Noun 1. mortgage holder - the person who accepts a mortgage; "the bank became our mortgagee when it accepted our mortgage on our new home"

[Sysman]

Being a complete financial tit, I have no idea if that's stupid, or clever. So, I'll draw all my money out of my accounts now, to be safe. If the Great British public hear of such an idea, there'll be another run, or something.

Let's just suppose that everything does go tits up, and there's a run on all the banks, and then the pound too.

It wpuld give the government the perfect excuse to go for the Euro. All that mattress money would have to be exchanged at whatever rate is deemed suitable, or become worthless.

[Sysman]

Yes they do, they'd just print more. If every bank needed bailing out they'd have a lot more to worry about than a touch of inflation.

Wheelbarrows. Lovely nice wheelbarrows. Come and get 'em.

(Plan B is looking good)

[wendigo100]

Must lrn2read, I was confused as to why the Dutch government would be sticking their oar in...

Hevra

Tulips. Another fine mess that was!

[Hevra]

On behalf of the NL Government I would lile to categorically deny any allegations of sleaze - besides - that was then - this is now.

Must lrn2read, I was confused as to why the Dutch government would be sticking their oar in...

Hevra

[AlfredJPruffock]

Not more sleaze, surely?

On behalf of the NL Government I would lile to categorically deny any allegations of sleaze - besides - that was then - this is now.

[sappatz]

blair

http://news.bbc.co.uk/1/hi/business/7002628.stm

BoE injecting another £10bn of money into the markets and accepting sub-prime derived mortgages as collateral.

Oh Dear ™ ?

indeed
the taxpayer will be paying Tony blair reckless management of this country. the guy has now left and is leaving the mess to sort out for the following.

[DBA_bloke]

http://news.bbc.co.uk/1/hi/business/7002628.stm

BoE injecting another £10bn of money into the markets and accepting sub-prime derived mortgages as collateral.

Oh Dear ™ ?

I suspect that a country can play around with seemingly poo "collateral" like Sub-Prime shares, as countries deal in decades, as well as in the now. One day, those poo stocks & shares in Sub-Prime will be worth more. It's the high street lot that can't afford to do this sort of thing. I think... but then, how the fook would I know?

[King Cnvt]

http://news.bbc.co.uk/1/hi/business/7002628.stm

BoE injecting another £10bn of money into the markets and accepting sub-prime derived mortgages as collateral.

Oh Dear ™ ?

[sappatz]

Nr

they are afraid of a UK banking system collapse, thats why they are bailing them out ! (for a central banker, queues in front of banks are nightmare)
queues in front of banks in UK like this didnt happen since 1973 or even 1929

[wendigo100]

"New Labour's favourite think-tank and source of policy ideas has confirmed it received funding from Northern Rock.

IPPR has yet to get back to Guido, so am as yet unable to confirm that they received hundreds of thousands of pounds in donations from Northern Rock."

If it smells like it, feels like it then it must be ...

Not more sleaze, surely?

[Addanc]

++ Source : IPPR Think-Tank Got "Massive" Donations from Northern Rock++

New Labour's favourite think-tank and source of policy ideas has confirmed it received funding from Northern Rock.

IPPR has yet to get back to Guido, so am as yet unable to confirm that they received hundreds of thousands of pounds in donations from Northern Rock. Reminds Guido of how generous Enron was with political donations before the end...

Want a potential reason for bailing out NR; if it smells like it, feels like it then it must be ...